BNP PARIBAS TO USE BLOCKCHAIN PLATFORM TO ISSUE MINIBONDS
First it was bitcoin, then it was stocks and now minibonds are becoming more and more part of the Blockchain technology sphere.
What Is Blockchain?
Blockchain technology is a way to structure data – here, the pertinent details of securities transactions – as a digital ledger of sorts across a network of computers. Pursuant to the French government’s initiative to allow private companies to issue minibonds with the use of crowdfunding platforms, BNP Paribas Securities Services has just announced it will expand its blockchain program for private stocks to allow private companies to issue minibonds via such platforms.
What Is The Use of Blockchain?
BNP Paribas is also working on a distributed ledger to register all minibonds issued over the platform and record all related transactions and changes of ownership. The hope is that this will create a more standardized, efficient process.
BNP Paribas’s press release on the new program is at the below link:
Jeff Petersen is an attorney licensed in California and Illinois helping clients with regard to a broad range of securities matters. He can be reached in California at 858.792.3666 and in Illinois at 312.450.4584.
